The proposed bill, if enacted, would update current statutes regarding the management of state properties by establishing specific rental rates for state-owned buildings and outlining reporting requirements following the sale of such properties. Specifically, it would set the rental rates at $17.87 per square foot for office space and $6.43 per square foot for storage space for the fiscal year 2026-2027. Additionally, it would require the Arizona Department of Administration to submit a report within ten days of selling state-owned real property in the Governmental Mall, detailing the address, square footage, purchase price, and the fund where the sale proceeds are deposited.

Furthermore, the bill would authorize the Legislative Council to place a commemorative plaque in the Governmental Mall recognizing the Arizona America 250 Commission, including the names and service years of its members. It would stipulate that public funds cannot be used for the plaque's costs, and all fundraising efforts would be the responsibility of the proponents. This section regarding the plaque would be repealed after September 30, 2029. Overall, the bill aims to enhance transparency and accountability in the management of state properties while commemorating the contributions of the Commission.